Summary - ADNOC accelerates its gas sector growth strategy with a $6.2 billion investment in the Umm Shaif field

July 21 (Reuters) - Abu Dhabi National Oil Company (ADNOC):

  • ADNOC accelerates its gas sector growth strategy with a final investment decision of $6.2 billion in the Umm Shaif gas field.

  • Investment in ADNOC's longest-lived offshore field includes awarding three engineering, procurement and construction contracts and a 14-well drilling program.

  • Production from the project is expected to begin by 2030.

  • A growth strategy with a final investment decision of $6.2 billion (AED 22.6 billion)

  • Investment to develop the Umm Shaif gas field in Abu Dhabi

  • The development also includes a program to drill 14 wells and integrated drilling services worth $365 million (AED 1.3 billion).

  • Developing the Umm Shaif gas field in cooperation with international partners Total Energies, Eni and the China National Petroleum Corporation

  • The final investment decision includes awarding engineering, procurement, and construction contracts with a total value of $5.1 billion (AED 18.8 billion) for large-scale offshore infrastructure projects, awarded by ADNOC to consortia of companies.

  • The program will be implemented by ADNOC Drilling over a period of 18 months using three existing drilling rigs.


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